All Forum Posts by: Sean Tagge

Nashville is a great city but getting very overpriced probably wont find any great cash on cash ROI on rentals but good appreciation.

Memphis is still relatively low priced and has high rents comparatively and has some stable employers. 

Chattanooga is growing rapidly kind of in the middle of Nash and Mem. 

I know 2 other guys doing lease options in Memphis. Just not a lot out there that I know of. They put it up on craigslist zillow etc. With that option be careful about advertising and make sure to do it legally. Another guy puts out bandit signs to get potential lease option buyers. 

I have a video on this explaining the Memphis Zip codes and what I classify A B C and D class neighborhoods etc. its a great place to start but next would be visiting Memphis checking out some PM's if you are going to use one and the driving as many houses and neighborhoods as you can. 

I personally really like Barlett, Whitehaven, and Desoto county

I like this idea 

I agree with the whole foods approach usually in B+ A- areas. 

Dollar stores are a little more spread out but more frequent in C areas. 

Our bail bond companies are mainly next to the courthouses downtown so don't really correlate there. 

Maybe another one to look into is fancy coffee shops. 

Hire an attorney to do it for you. Their fee includes the state fees. They usually charge around $500 to get it set up. 

OPTIONS: 

If you are not super motivated to buy it: My sister had this same issue $30k appraisal under sale price. The seller needed to close quick because they had a 1031 lined up so she held firm and stated she is not buying anything over the appraisal price and the seller accepted to sell at the lower appraised price. 

If you are kind of motivated to buy it: This might be a good opportunity to renegotiate with the seller. Ask the seller to meet you half way of the appraisal and sale price.

If you are desperate to buy it: contest the appraisal (usually never works), then get a new lender and you can get it reappraised. or just fork over an extra $40k on top of your down payment. 

Great question here are some options for you in order of most time intensive to least:

1- Become a full time flipper 

2-Buy a 2-4 unit house hack

3-Buy some SFR-4 plex rental properties to BRRRR

4-Buy some turnkey properties

5- Hard Money lend 8-12% w/ 1-2 points. 1st lien 6-12 months.

6-Invest in a syndication

On our Turnkey Sales here in Memphis our buyers are getting around 4-4.25% interest 20% down 80% LTV 30 year fixed. so ya it looks like you got a pretty sweet deal.

@Joaquin M Dugan Jr yes call/text my phone or email me (numbers and email below in my signature) anytime. 

Awesome facts. 

Thanks for sharing. I'm a turnkey provider in Memphis, TN and we have an in house property management company. We were very surprised to not see any drastic changes in our rent collections nor our rental applications. Rent collections dipped slightly but rental applications have increased YoY comparison.